Investing.com -- Stocks were rising on Friday after inflation data met expectations as investors await next week's meeting by the Federal Reserve. Here are the market movers for April 28.
- First Republic Bank (NYSE:FRC) shares were down 38% and halted as of midday as hopes faded that the regional lender would strike a deal. Other regional banks were trading higher, including PacWest Bancorp (NASDAQ:PACW), up 1.3%
- Snap Inc (NYSE:SNAP) shares fell 18.4% after the disappearing message app company missed expectations on a slowdown in advertising. The company said it was making improvements to its advertising platform.
- Amazon.com Inc (NASDAQ:AMZN) shares were down 3.7% after it beat expectations on revenue and profit for the first quarter but said it sees a slowdown in the growth of its Amazon Web Services division as companies try to make the most of their cloud computing spending.
- Exxon Mobil Corp (NYSE:XOM) shares rose 2% and Chevron Corp (NYSE:CVX) shares rose 0.8% after the two oil majors beat expectations for earnings despite crude oil prices hovering under $80 a barrel compared with the $100 a barrel level where they traded last year.
Intel Corporation (NASDAQ:INTC) shares rose 3.4% after a narrower-than-expected loss in the first quarter. For the second quarter, the chip maker said it expects revenue of $11.5 billion to $12.5B.